Inflation Sri Lanka 2024
Average inflation: -0.4%
Inflation in 2024
There is deflation with consumer prices declining by 0.4%.
Peak and Trough
The highest inflation was in January at 6.5%. The lowest inflation was in December at -8.2%.
- Highest month
- January: 6.5%
- Lowest month
- December: -8.2%
- Difference
- 14.7 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Core inflation with an average of 2.5%. The lowest price increase was in Energy with an average of -7.3%.
- Highest increase
- Core inflation: 2.5%
- Lowest increase
- Energy: -7.3%
Historical Context
Inflation is 16.8 percentage points lower than the 5-year average of 16.4%.
- 5-year average
- 16.4%
- 10-year average
- 10.3%
- All-time high (2022)
- 49.3%
- All-time low (2024)
- -0.4%
Trend
Over the period 2022-2024, inflation shows a downward trend. Compared to 2023, inflation has fallen by 20.2 percentage points.
- Change vs. previous year
- -20.2 percentage points
- Largest monthly swing
- February: -48.5 percentage points
ECB Target
Inflation is 2.4 percentage points below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
Due to deflation, purchasing power increases. Money becomes more valuable instead of less.
What you could buy for LKR 100 this year will cost approximately LKR 99.60 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 6.5% | -46.7 |
| February | 5.1% | -48.5 |
| March | 2.5% | -46.7 |
| April | 2.7% | -30.9 |
| May | 1.6% | -20.5 |
| June | 2.4% | -8.4 |
| July | 2.5% | -2.1 |
| August | 1.1% | -1.0 |
| September | -6.2% | -7.0 |
| October | -6.7% | -7.7 |
| November | -8.1% | -10.9 |
| December | -8.2% | -12.4 |
| Average | -0.4% |
Data source
Data from WorldBank. Last updated: 06/01/2026.